Demonetisation not to have significant impact on biz:MV Agusta

Bengaluru, Nov 19 (PTI) MV Agusta India, part of the Kinetic Group, sees no significant impact on the companys business from the demonetisation move, but today said there is confusion in the market that needs to be removed. "I agree it is an excellent step. It is a good step. I think it will not have any significant impact on the business. It is just a correction. Right now, there is just confusion in the market, which needs to be solved. I think the situation will limp back to normalcy," Managing Director Ajinkya Firodia told PTI. Firodia said buyers of MV Agusta are high-end customers who do online purchases and is hopeful that the present confusion due to demonetisation will not affect them. The company plans to sell 400 vehicles by December-end and about 800 for only MV Agusta in India by 2018. "For our first year, we plan to sell 400 vehicles by December-end, which we think is realistic and aggressive. Our eventual target is to reach 600-800 for only MV Agusta in India, maybe by 2018, because the market is growing so much," he said.

The company has sold 70 bikes in Pune and Ahmedabad since inception in May or June, Firodia said.

"Our target in Bengaluru is about 60-70 vehicles every year," he added.

Earlier, MV Agusta India today announced its official entry in South India through an exclusive showroom in the city and unveiled the limited edition F3 800 RC AMG. "After receiving an overwhelming response for our Pune and Ahmedabad showrooms, we are excited to launch our third showroom in Bengaluru and also unveil our limited edition model F3 800 RC," he said.

MV Agusta is the most premium motorcycle brand in the country and its motorcycles are designed by legends like Massimo Tamburini, he added.

The F3 RC is an AMG branded limited edition version of the highly popular model, the F3?800, he said.

Of 250 vehicles produced in the world, only nine are allocated for India, making it a collector?s edition, Firodia said. PTI BDN RA APR ARD

This is unedited, unformatted feed from the Press Trust of India wire.

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